It also identifies some of the positive features

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Unformatted text preview: s the bottlenecks and the difficulties hampering effective tax implementation. Finally, long-term and short-term recommendations are suggested that can improve local revenue generation for each tax. 4.1 Property Tax Framework The local government planning council has the power to adopt property tax as provided under the Code. The Code specifies a maximum 2 percent tax per annum on the assessed value that the city can impose on property. The Code further authorizes the city to levy and collect an additional tax for a special education fund (SEF) equal to 1 percent of the assessed value of property for school building program, which was earlier imposed by the central government. The taxable base is the assessed value, which is supposed to be calculated from the fair market value and the assessment levels. The Code also provides ceilings on assessment levels for various uses of land and building. According to Bahl and Miller the tax rate and the assessment levels for Philippines have historically been lo...
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